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Casual Hoteles closes 2022 with revenues of 23.6 million euros and an EBITDA of 5 million euros
17/05/2023
May 17, 2023. As expected, the Valencian chain of themed hotels Casual Hoteles , with a presence in 12 cities in Spain (Valencia, Benidorm, Barcelona, Madrid, Seville, Cádiz, Málaga, San Sebastián and Bilbao), Portugal (Lisbon and Oporto) and Italy (Florence), has closed an excellent year 2022, which leaves behind the great difficulties experienced during 2020 and 2021.
Thus, the revenue generated by its hotels in 2022 amounted to €23.6 million, while the EBITDA obtained from this activity was €5 million. Although Casual Hoteles had five more hotels in 2022 than in 2019 (Casual with Duende Cádiz, added in 2020, and Casual Colors Barcelona, Casual Pop Art Benidorm, Casual Raizes Porto, and Casual Rinascimento Firenze in 2022), the increase compared to that year can be considered spectacular, with revenue growing by 55.26% and EBITDA by 284.61%.
Similar occupancy, but higher rates :
Regarding hotel occupancy, the average occupancy rate in 2022 was 87.11%, very similar to the 87.05% achieved in 2019. However, last year's RevPar was 20.25% higher than in 2019, with the average room rate rising from €64.59 in 2019 to €77.55 in 2022.
Major impact of the domestic market on tourism recovery :
The tourism recovery recorded in 2022 was possible thanks, above all, to the boost from the domestic market, which, in the case of Casual Hoteles, generated 39% of reservations. The other two markets that contributed the most were Italy and France, with 8.2% and 6.9%, respectively; followed by Britain, the Netherlands, and Germany, with approximately 3.5% each. Finally, it is worth highlighting the North American market, which, although remaining at 3%, saw the largest increase in customers for the chain in 2022, with a 296.2% increase compared to 2019.
Interestingly, the Casual Pop Art Benidorm was the hotel of choice for Spaniards, the Casual Cine Valencia for Italians, the Casual Don Juan Tenorio Sevilla for French visitors, the Casual del Teatro Madrid for Americans, and the Casual Raizes Porto for Portuguese visitors.
Consolidation as one of the main Pet Friendly chains in our country :
The 2022 financial results also show how the financial figures support Casual Hoteles' status as one of the leading pet-friendly chains in Spain. Thus, in 2022, the group's hotels received a total of 3,336 reservations from guests with pets, generating 3.72% of the company's total revenue.
Regarding the pet-friendly guest profile, 53.3% were Spanish, and almost the other half were foreigners, with the most frequent being French, representing 7.9%. Their average stay was 2.35 days, and they spent an average of €228.3 per stay. The peak travel time with their pets was in August and Christmas (including both December and January). Most of them were single, and their preferred pet-friendly establishments were Casual Las Olas San Sebastián, which received a total of 1,724 pet reservations in 2022 (representing 7.66% of its revenue); and Casual de las Artes Valencia, which welcomed 1,410 pets during the same period (representing 5.76% of its revenue).
Forecasts indicate that 2023 could be even better than 2022 :
At the close of the first four months of 2023, everything seems to indicate that this year will be even better than 2022. At least in the case of Casual Hoteles, which generated revenue of €7.46 million from January to April of this year. Compared to last year's figure, and not including the four new hotels that were not yet open at that time, the 2023 revenue figure would be €6.12 million, representing a 30.1% increase compared to the same period in 2022.
About Casual Hotels :
Casual Hoteles is a Valencian hotel company founded in 2013 by Juan Carlos Sanjuán, with the goal of becoming a benchmark for themed urban accommodations in Spain. All of its hotels feature unique decor inspired by the destinations in which they are located, and offer high-quality standards and central locations at affordable prices.
They are fun, surprising, and provocative, making Casual Hoteles a disruptive chain that, in 2018, was recognized with the Hostelco Award for "Best Hotel Concept." The group is also known for its strong social and environmental commitment through its own Code of Ethics and for its collaborations with NGOs such as Save the Children and UNICEF, among others. Currently, Casual Hoteles has 23 hotels and 881 rooms in 12 cities in Spain, Portugal, and Italy, of which 1 is owned, 1 is managed, 15 are leased, and 6 are franchised.
Thus, the revenue generated by its hotels in 2022 amounted to €23.6 million, while the EBITDA obtained from this activity was €5 million. Although Casual Hoteles had five more hotels in 2022 than in 2019 (Casual with Duende Cádiz, added in 2020, and Casual Colors Barcelona, Casual Pop Art Benidorm, Casual Raizes Porto, and Casual Rinascimento Firenze in 2022), the increase compared to that year can be considered spectacular, with revenue growing by 55.26% and EBITDA by 284.61%.
Similar occupancy, but higher rates :
Regarding hotel occupancy, the average occupancy rate in 2022 was 87.11%, very similar to the 87.05% achieved in 2019. However, last year's RevPar was 20.25% higher than in 2019, with the average room rate rising from €64.59 in 2019 to €77.55 in 2022.
Major impact of the domestic market on tourism recovery :
The tourism recovery recorded in 2022 was possible thanks, above all, to the boost from the domestic market, which, in the case of Casual Hoteles, generated 39% of reservations. The other two markets that contributed the most were Italy and France, with 8.2% and 6.9%, respectively; followed by Britain, the Netherlands, and Germany, with approximately 3.5% each. Finally, it is worth highlighting the North American market, which, although remaining at 3%, saw the largest increase in customers for the chain in 2022, with a 296.2% increase compared to 2019.
Interestingly, the Casual Pop Art Benidorm was the hotel of choice for Spaniards, the Casual Cine Valencia for Italians, the Casual Don Juan Tenorio Sevilla for French visitors, the Casual del Teatro Madrid for Americans, and the Casual Raizes Porto for Portuguese visitors.
Consolidation as one of the main Pet Friendly chains in our country :
The 2022 financial results also show how the financial figures support Casual Hoteles' status as one of the leading pet-friendly chains in Spain. Thus, in 2022, the group's hotels received a total of 3,336 reservations from guests with pets, generating 3.72% of the company's total revenue.
Regarding the pet-friendly guest profile, 53.3% were Spanish, and almost the other half were foreigners, with the most frequent being French, representing 7.9%. Their average stay was 2.35 days, and they spent an average of €228.3 per stay. The peak travel time with their pets was in August and Christmas (including both December and January). Most of them were single, and their preferred pet-friendly establishments were Casual Las Olas San Sebastián, which received a total of 1,724 pet reservations in 2022 (representing 7.66% of its revenue); and Casual de las Artes Valencia, which welcomed 1,410 pets during the same period (representing 5.76% of its revenue).
Forecasts indicate that 2023 could be even better than 2022 :
At the close of the first four months of 2023, everything seems to indicate that this year will be even better than 2022. At least in the case of Casual Hoteles, which generated revenue of €7.46 million from January to April of this year. Compared to last year's figure, and not including the four new hotels that were not yet open at that time, the 2023 revenue figure would be €6.12 million, representing a 30.1% increase compared to the same period in 2022.
About Casual Hotels :
Casual Hoteles is a Valencian hotel company founded in 2013 by Juan Carlos Sanjuán, with the goal of becoming a benchmark for themed urban accommodations in Spain. All of its hotels feature unique decor inspired by the destinations in which they are located, and offer high-quality standards and central locations at affordable prices.
They are fun, surprising, and provocative, making Casual Hoteles a disruptive chain that, in 2018, was recognized with the Hostelco Award for "Best Hotel Concept." The group is also known for its strong social and environmental commitment through its own Code of Ethics and for its collaborations with NGOs such as Save the Children and UNICEF, among others. Currently, Casual Hoteles has 23 hotels and 881 rooms in 12 cities in Spain, Portugal, and Italy, of which 1 is owned, 1 is managed, 15 are leased, and 6 are franchised.
